IASC proposes guidance on interim financial reporting.The International Accounting Standards Committee International Accounting Standards Committee was founded in June 1973 in London and replaced by the International Accounting Standards Board on April 1, 2001. It was responsible for developing the International Accounting Standards and promoting the use and application of these (IASC IASC International Accounting Standards Committee IASC Inter-Agency Standing Committee (United Nations) IASC International Arctic Science Committee IASC International Association for Statistical Computing ) has published for comment a draft statement of principles (DSOP DSOP Draft Statement of Principles DSOP Defence School of Photography (UK Ministry of Defence) DSOP Degenerate Statistically Optimum Plan DSOP Dual Die Tsop ) on accounting for interim financial reports. The IASC approved the set of proposals for recognizing, measuring and disclosing assets, liabilities, income and expenses for quarterly, biannual bi·an·nu·al adj. 1. Happening twice each year; semiannual. 2. Occurring every two years; biennial. bi·an and other types of interim reports. The DSOP is expected to form the basis of an IASC exposure draft of an international accounting standard (lAS) on interim financial reporting. Interim financial information is used by investors and creditors, and securities regulators and stock exchanges in more than 30 countries currently require interim reporting. However, there are no lASs that specifically address reporting financial information for interim periods. The DSOP proposes that such reports include, at a minimum, a condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. income statement, balance sheet and cash flow statement and selected note disclosures. Copies of the Draft Statement of Principles on Interim Financial Reporting can be obtained for approximately $8 by calling the IASC in London at +44 (171) 353-0565. 
partnership accounting, branch accounting exchange rate and translation and etc |
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